This is a satisfaction of judgment which indicates that a judgment has been paid in full, including all fees, costs and interest. It acknowledges full and complete satisfaction of the judgment and directs that the judgment be marked as paid in full.
Michigan Satisfaction of Judgment
State:
Michigan
Control #:
MI-0909-AA
Format:
Word;
Rich Text
Instant download
Description
Definition and meaning
The Michigan Satisfaction of Judgment is a legal document used to confirm that a judgment has been fully paid and satisfied. This document serves to officially acknowledge that the creditor has received the full amount owed, including any interest or additional fees, and that no further payments are required from the debtor. It is an important step in the legal process as it helps to clear the debtor's record and restore their credit standing.
Who should use this form
This form should be used by plaintiffs or creditors who have received payment for a judgment issued by a court in the state of Michigan. It is pertinent for individuals or entities that were awarded a judgment against a defendant, indicating that the judgment has been satisfied in full. Utilizing this form helps ensure that the legal record accurately reflects the payment status, protecting both the creditor’s and debtor’s rights.
How to complete a form
To complete the Michigan Satisfaction of Judgment, follow these steps:
- Begin by entering the relevant court information, including the court name and county.
- Provide the case number associated with the judgment.
- Fill in the names of the plaintiff(s) and defendant(s).
- State the total amount of the judgment, including any additional fees or interest that may apply.
- Include the date that the judgment was rendered.
- Sign the document and have it notarized to ensure authenticity.
- Finally, send copies of the satisfaction to all concerned parties, including the defendant.
Key components of the form
The Michigan Satisfaction of Judgment includes several key components:
- Plaintiff(s) Information: Names and contact details of the plaintiff or attorney.
- Defendant(s) Information: Names of the defendant(s) against whom the judgment was issued.
- Judgment Details: Amount of the judgment and the original judgment entry date.
- Notarization: A section for notarization to confirm the identity of the individuals completing the satisfaction.
- Certificate of Mailing: A declaration that copies of the form have been mailed to the involved parties.
Legal use and context
The Michigan Satisfaction of Judgment is used within the legal framework to formally acknowledge that a debt has been settled. It is typically required after a court judgment where the creditor has received payment. Filing this form with the court ensures that the judgment is updated to reflect that it has been satisfied, which can improve the debtor's credit report and avoid future legal complications regarding unpaid debts.
Common mistakes to avoid when using this form
When filling out the Michigan Satisfaction of Judgment, be mindful of the following common mistakes:
- Not providing complete information, such as missing names or case numbers.
- Failing to include the correct amount paid, leading to discrepancies.
- Neglecting to have the document notarized, which can invalidate the form.
- Not retaining copies of the form for personal records and documentation.
- Forgetting to mail copies to the defendant and relevant parties.
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FAQ
Once a judgment is paid, whether in installments or a lump sum, a judgment creditor (the person who won the case) must acknowledge that the judgment has been paid by filing a Satisfaction of Judgment form with the court clerk.
Judgments are no longer factored into credit scores, though they are still public record and can still impact your ability to qualify for credit or loans.If a civil judgment is still on your credit report, file a dispute with the appropriate credit reporting agencies to have it removed.
A document signed by the party who is owed money under a court judgment (called the judgment creditor) stating that the full amount due on the judgment has been paid.
Once a judgment is paid, whether in installments or a lump sum, a judgment creditor (the person who won the case) must acknowledge that the judgment has been paid by filing a Satisfaction of Judgment form with the court clerk.
In order to vacate a judgment in California, You must file a motion with the court asking the judge to vacate or set aside the judgment. Among other things, you must tell the judge why you did not respond to the lawsuit (this can be done by written declaration).
A Satisfaction of Judgment is a document signed by one party acknowledge receipt of the payment. The Satisfaction of Judgment is then filed with the court. This is beneficial to the paying party for multiple reasons. One, the court is put on notice that the debt has been satisfied.
If the judgment creditor does not immediately file an Acknowledgement of Satisfaction of Judgment (EJ-100) when the judgment is satisfied, the judgment debtor may make a formal written demand for the creditor to do so. The judgment creditor has 15 days after receiving the debtor's request to serve the acknowledgement.